Page 98 - 2017 White Paper
P. 98
7 White Paper on the Business Environment in China
1.6 Update on U.S.-ChinaTrade & Investment
Progress Report On the eve of the G20 summit in Hangzhou that
September, President Xi Jinping, in meeting with
From the early half of 2016 to as late as President Barack Obama, exhorted their two countries
the year’s fourth quarter, Chinese to strive and reach a “reciprocal and win-win” bilateral
authorities have been vocal in their support and optimism investment treaty “as soon as possible” (Xinhua 2016c).
for the conclusion of a U.S.-China Bilateral Investment
Treaty (BIT). During a lunch event about China-U.S. trade relations
hosted by a Chinese think tank, the Center for China
At the annual March 2016 Boao Forum for Asia (BFA) and Globalization, Long Yongtu, China’s former chief
in southern China’s Hainan province, former Chinese negotiator for World Trade Organization (WTO) accession,
commerce minister Chen Deming, rather optimistically, told Xinhua with regards to BIT negotiations:“That means
announced that BIT talks were “nearing completion, with the Obama government still wants to get it done before
most key issues resolved”, Xinhua reported. He was all he leaves office”. Mr. Long also said that “there’s a good
praises for the BIT, expressing his opinion that the BIT chance” that the two countries could finally wrap up the
would “help Chinese companies invest overseas” and “fit eight years of talks under the Obama administration
better in the global value chain” (Xinhua 2016a). (Xinhua 2016d).
A few months later, in September 2016, China’s Ministry In October 2016, during a meeting with former U.S.
of Commerce issued a declaration that BIT discussions Treasury Secretary Henry Paulson, Chinese Premier
have made “significant progress”, according to Xinhua. Le Keqiang added his voice to the chorus of hope that
The statement followed the 28th round of BIT talks held “positive outcomes” in BIT negotiations be reached “as
in Beijing in August 2016 and consultations extending soon as possible”, China Daily reported. According to the
from that month to until September 2016, whereby both China Institute of Contemporary International Relations,
sides exchanged new “negative list” offers and reached a the meeting between the two senior leaders was intended
“consensus on important issues” (Xinhua 2016b). to be “a clear message” to the U.S. that China “welcomes
foreign investment, including American enterprises”,
That same month, September 2016, the China and that “the U.S. should uphold trade liberalization and
Daily ran a news report quoting spokespersons for the investment facilitation no matter who is elected the new
International Economic Cooperation Institute at the president” (Hu 2016).
National Development and Reform Commission as well
as the Chinese Academy of International Trade and By November 2016, with the U.S. presidential election
Economic Cooperation, both highlighting the urgency concluding with a victory by Republican candidate
of ironing out important issues in BIT negotiations Donald Trump, optimistic pundits declared to the China
before the conclusion of the U.S. presidential election Daily their confidence that ongoing BIT negotiations
in November to “prevent political intervention” while would not be “obstructed or delayed” by the incoming
acknowledging that this could be “challenging” and “very administration, despite President-elect Trump’s campaign
tough” (Zhong 2016a). pledge to impose heavy tariffs on Chinese products.
One of them, He Jingtong, a professor of trade policy at
The news report was probably meant to provide a Nankai University in Tianjin, expressed his opinion thus:
boost to BIT negotiations taking place that same month “Shutting down the BIT talk channels will not conform
in Washington D.C. to the interests of either the new US federal government
or local governments, especially those located in the so-
98 called Rust Belt of the country” (Zhong 2016b).
1.6 Update on U.S.-ChinaTrade & Investment
Progress Report On the eve of the G20 summit in Hangzhou that
September, President Xi Jinping, in meeting with
From the early half of 2016 to as late as President Barack Obama, exhorted their two countries
the year’s fourth quarter, Chinese to strive and reach a “reciprocal and win-win” bilateral
authorities have been vocal in their support and optimism investment treaty “as soon as possible” (Xinhua 2016c).
for the conclusion of a U.S.-China Bilateral Investment
Treaty (BIT). During a lunch event about China-U.S. trade relations
hosted by a Chinese think tank, the Center for China
At the annual March 2016 Boao Forum for Asia (BFA) and Globalization, Long Yongtu, China’s former chief
in southern China’s Hainan province, former Chinese negotiator for World Trade Organization (WTO) accession,
commerce minister Chen Deming, rather optimistically, told Xinhua with regards to BIT negotiations:“That means
announced that BIT talks were “nearing completion, with the Obama government still wants to get it done before
most key issues resolved”, Xinhua reported. He was all he leaves office”. Mr. Long also said that “there’s a good
praises for the BIT, expressing his opinion that the BIT chance” that the two countries could finally wrap up the
would “help Chinese companies invest overseas” and “fit eight years of talks under the Obama administration
better in the global value chain” (Xinhua 2016a). (Xinhua 2016d).
A few months later, in September 2016, China’s Ministry In October 2016, during a meeting with former U.S.
of Commerce issued a declaration that BIT discussions Treasury Secretary Henry Paulson, Chinese Premier
have made “significant progress”, according to Xinhua. Le Keqiang added his voice to the chorus of hope that
The statement followed the 28th round of BIT talks held “positive outcomes” in BIT negotiations be reached “as
in Beijing in August 2016 and consultations extending soon as possible”, China Daily reported. According to the
from that month to until September 2016, whereby both China Institute of Contemporary International Relations,
sides exchanged new “negative list” offers and reached a the meeting between the two senior leaders was intended
“consensus on important issues” (Xinhua 2016b). to be “a clear message” to the U.S. that China “welcomes
foreign investment, including American enterprises”,
That same month, September 2016, the China and that “the U.S. should uphold trade liberalization and
Daily ran a news report quoting spokespersons for the investment facilitation no matter who is elected the new
International Economic Cooperation Institute at the president” (Hu 2016).
National Development and Reform Commission as well
as the Chinese Academy of International Trade and By November 2016, with the U.S. presidential election
Economic Cooperation, both highlighting the urgency concluding with a victory by Republican candidate
of ironing out important issues in BIT negotiations Donald Trump, optimistic pundits declared to the China
before the conclusion of the U.S. presidential election Daily their confidence that ongoing BIT negotiations
in November to “prevent political intervention” while would not be “obstructed or delayed” by the incoming
acknowledging that this could be “challenging” and “very administration, despite President-elect Trump’s campaign
tough” (Zhong 2016a). pledge to impose heavy tariffs on Chinese products.
One of them, He Jingtong, a professor of trade policy at
The news report was probably meant to provide a Nankai University in Tianjin, expressed his opinion thus:
boost to BIT negotiations taking place that same month “Shutting down the BIT talk channels will not conform
in Washington D.C. to the interests of either the new US federal government
or local governments, especially those located in the so-
98 called Rust Belt of the country” (Zhong 2016b).
